Mohd Karim said the independent review by Ernst & Young
Consulting Sdn Bhd (EY) into the issues raised by its former external auditors, KPMG Ltd, is ongoing and expected to be completed by October 2021.
“The report will be submitted to Bursa Malaysia,” he added.
The integrated oil and gas service provider appointed EY in July as its independent reviewer to assess the veracity of the audit issues raised by KPMG.
Its independent non-Eds have been receiving progress updates from EY on a biweekly basis, Mohd Karim said.
The above is taken from the news 1 month ago. Of course Karim told everybody already report will be submitted to bursa by end of Oct 2021 and that is why bursa released that directive. Aiyo.
I still think its unethecal for ceo to sell the wa. As he has always been telling BAU n so bullish abt sd. So many ikan bilis n shark also got trap by wa. All i can say for now he is nt a trust worthy person thou by law he has every right to sell wa.
Let say SIR is good, everyone will be crazy and buy a lot of shares, push the price to the ceiling, but remember when others come in with greed, it's perfect time for you to sell.
the SIR is shared only to 3/4 INED, thats why Bursa requires immediate announcements to Public for fair trading. definitely SIR will be published within these weekends
Everyone know that during these period, when the company having urgent issue, like 18 months unaudited account, 5 directors resigned, Special investigation period, directors are not allowed to trade their shares. They should know, their accountant should know, their bank and remisier should know. Unless it is a force selling of shares.
If sir come out as good, then karem will be sued and reprimand by bursa for "insider trading." If sir come out as bad, karem will be sued again because selling warrant is also an insider trading, not to mention buying mother share to MISLEADING ?
So, regardless SIR is good or bad, by selling warrant and buying even 1 lot mother share will be consider as insider trading, and land karem in hot pot.
So, why karem still do it ?
If SIR is good, then by releasing the good news would have solve EVERYTHING !! But NO. Sebak still REFUSE to release it, forcing Bursa to give out last warning, release by or else.
If SIR is bad, by making bursa to suspend sebak, karem seem to buy time to do something else, like ..... fled the country ? I don't know. U tell me.
EY should report directly the finding to Bursa, but bursa issued directive to Serba for revealing the factual finding. If non compliance, the counter will be suspended. So today's suspension clearly tell that Bursa received the SIR, but company did not reveal it immediately, (not sure good or bad result) but surely Bursa don't want ppl take advantage on insider news, hence they suspended it for good. By looking at the captain keep accumulating mother shares, I believed he still have strong faith in his ship. And pertaining to the Qs why he disposed wa, it's his own strategic decision. Wa does not generate dividend nor can serve as collateral, hence at this point of critical time, I believe he is doing his best bet on the recovery on the mother share. I am just analyse based on logic. I hope whoever own the shares earn your big bucks in coming days, whoever do not own the shares we also don't be gloating too, it's not your money to lose also. Cheers everyone, and have a nice weekend
When u read the annoucement " ...suspended until further notice " means the issue maybe cant be solved in short term based on previous history or worst case delisting is the only way .
smktta yes that is what it believe too. Cant wait 26 already. imagine 29 also budget announcement and normally this time share price all go rally. huhuhu double and triple impact. Adoi syok nyer.
When u read the annoucement " ...suspended until further notice " means the issue maybe cant be solved in short term based on previous history or worst case delisting is the only way .
Some gullible fools think it will be all,ok? After all SD suppose to have 18b contract outstanding! Have these be verified….I doubt it! Any way who would deal with such a company unless they are also of the same ilk! The worst people are corrupt and untrustworthy ….they have morality and can pretend to be righteous and pray…counts for nothing you may fool mortals but not the almighty! Remember this.
So, the main question keep coming back. Why SEBAK REFUSE to release the SIR yesterday or even today ? Why yesterday Karem did not mention about SIR has been completed and will be release soon. He seem got time to explain about selling warrant. Why Karem up until NOW,still not announce that Sebak will release SIR on monday ? Don't tell me, Karem don't want to release SIR as bursa directed ?
Mohd Karim said the independent review by Ernst & Young
Consulting Sdn Bhd (EY) into the issues raised by its former external auditors, KPMG Ltd, is ongoing and expected to be completed by October 2021.
“The report will be submitted to Bursa Malaysia,” he added.
The integrated oil and gas service provider appointed EY in July as its independent reviewer to assess the veracity of the audit issues raised by KPMG.
Its independent non-Eds have been receiving progress updates from EY on a biweekly basis, Mohd Karim said.
The above is taken from the news 1 month ago. Of course Karim told everybody already report will be submitted to bursa by end of Oct 2021 and that is why bursa released that directive. Aiyo.
Sebak could have release good SIR today, and Monday sebak limit up. But why sebak refuse to release good SIR today ? Sebak don't want to limit up on monday ?
is there any way we can all make report to bursa and police to investigate if there is element of insider tradin so that we can get the dirctors jailed, this way they wong get to enjoy teir ill gotten gans ?
to honesty : Everyone here know leno talking about insider trading. Only orang bodoh sahaja yang tak faham. Orang utan pun cakap honesty seorang yang lebih BODOH dari taik lembu. Kesian.
Karem should at least come out today and say Sebak will release SIR on monday. That is the very least he can do for causing sebak to be suddenly suspended today afternoon.
But hey ! Where is karem ? Why no sound ? Karem ?! Oh Karem ?!
Actually the latest investigation on the false account report already come out before 30/9/2021, but the management hold the report not show to public more than 3 weeks time, so bursa suspend this counter till the management show the report to the public. You can imagine why management hold the investigation report, definitely is very bad.
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Benhobenhobenho
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Posted by Benhobenhobenho > 2021-10-22 20:43 | Report Abuse
Could he had got some insider info prior to his share disposal?